SCHEDULES
SCHEDULE 1Small profits rate for non-ring fence profits
PART 2Amendments of Chapter 3A of Part 8 of CTA 2010
7
1
Section 279C (company with ring fence profits and other profits) is amended as follows.
2
In subsection (1), after paragraph (a) insert—
ab
it is not a close investment-holding company in the period,
3
For subsection (2) substitute—
2
The corporation tax charged on the company's taxable total profits of the accounting period is reduced by the total of—
a
the sum equal to the ring fence marginal relief fraction of the ring fence amount, and
b
the sum equal to the standard marginal relief fraction of the remaining amount.